ID-Pal ranked 16th at the 2023 Deloitte Technology Fast 50 Awards, one of Ireland’s foremost technology award programmes and took home the Financial Services Innovation (FSI) Award, in association with Financial Services Ireland last week. The Fast 50 is a ranking of the country’s 50 fastest-growing technology companies based on revenue growth over a four-year period and the FSI award recognises a company with an innovative product or services that is having a disruptive impact within the financial services industry. This years awards mark 24 years of the programme celebrating innovation and entrepreneurship in Ireland’s technology sector.
ID-Pal’s position in the Deloitte Fast 50 ranking reflects the exceptional growth and commercial achievements the company has realised over the past two years. Beginning with a successful Series A funding round in July 2022, ID-Pal’s expansion journey has successfully extended into the UK market and, more recently, into the USA, illustrating their dedication to broadening global presence and innovation.
Announcing the winners of the Deloitte Technology Fast 50 programme, James Toomey, Partner and Fast 50 lead, Deloitte said: “Congratulations to all the companies that ranked this year. The Fast 50 awards are an important and exciting moment for Ireland’s indigenous tech industry to reflect on the growth and challenges they have experienced over the past year. Even though this has been a difficult year for tech companies, there are encouraging indicators in these rankings that show the strength of Ireland’s indigenous sector and that our homegrown talent continues to play an important role in building the future of technology. Supporting this ecosystem is not just an investment in innovation, it’s an investment in our collective progress, and networks like Fast 50 are an ideal opportunity to connect and learn from other companies.”
ID-Pal’s CEO and Founder, Colum Lyons, attributes ID-Pal’s significant growth in recent years to their commitment to delivering a seamless user experience, ensuring precision in identity verification outcomes, and upholding the highest standards in security. These core principles have been instrumental in driving the company’s expansion and success.
On being ranked 16th position in the Deloitte Technology Fast 50 Awards and winning the FSI Award, Lyons commented, “We have had an incredible year of award success internationally in the US and UK but gaining recognition on home soil with the Deloitte Technology Fast 50 represents our continued success in the Irish market. Given how the Fast 50 is based off revenue growth, it adds a deep level of satisfaction and puts a huge smile on my face – the cherry on the top is also winning the Financial Services Innovation Award.”
Cumulatively, the 2023 Fast 50 winners generated over €3 billion in total annual revenues and now employ over 8,800 people. The average revenue of companies featured in the ranking was approximately €10 million, while the average growth rate of the companies over the last four years was 721%. The awards programme also saw 15 new entrants appearing on the ranking for the first time. The companies ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company.
The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders.
Full details on the winners can be found at www.fast50.ie.
Winner of Best Customer Facing Experience at the Pay360 Awards, ID-Pal is an award-winning ISO 27001 certified SaaS solution that enables businesses to verify the identity and address of customers in real-time and meet their AML/KYC compliance requirements. The plug and play platform can be up and running in the same day, and is also available as an API/SDK. Customisable to the specific needs of any business, the solution eliminates the complexity, cost, timelines, and risk associated with regulatory compliance.